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Purchase Mortgage Loan
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What's the difference between pre-qualification and pre-approval?

Quick answer

Pre-qualification is a quick estimate of how much you might borrow based on information you report, often with a soft credit check. Pre-approval is a verified review: the lender pulls your credit and checks income, asset and debt documents before issuing a conditional commitment. Sellers take pre-approval far more seriously when comparing offers.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated
Min. down: —Min. credit: —

Side-by-side comparison

Pre-qualificationPre-approval
Credit checkSoft or noneHard pull
DocumentsNonePay stubs, W-2s, bank statements
TimeMinutes1–3 business days typically
Weight with sellersLowHigh

Frequently asked questions

Yes. If you're ready to shop for homes, go straight to pre-approval.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.